BofA Finance LLC filed a free writing prospectus on October 28, 2026, providing a term sheet for Market Linked Securities auto-callable with fixed percentage buffered downside, linked to the NASDAQ-100 Index and due November 14, 2030, fully and unconditionally guaranteed by Bank of America Corporation.

Key Highlights

  • Issuer and Guarantor: BofA Finance LLC is the issuer; Bank of America Corporation serves as full and unconditional guarantor.
  • Maturity Date: November 14, 2030, with a pricing date of November 11, 2026, and an issue date of November 16, 2026, all subject to change.
  • Call Premiums: If automatically called, investors receive the principal amount plus call premiums of at least 9.70%, 19.40%, 29.10%, or 38.80% of principal, depending on the applicable call date, with final amounts to be determined on the pricing date.
  • Buffer: The threshold value is 90% of the starting value; if the ending value falls below that threshold, investors receive less than, and possibly 90.00% less than, the principal amount.
  • Initial Estimated Value: The initial estimated value of the securities as of the pricing date is expected to be between $915.00 and $965.00 per security, which the filing states is less than the public offering price.
  • Underwriting Discount: Up to 2.575% per security; dealers including those using the Wells Fargo Advisors trade name may receive a selling concession of 2.00% per security, and WFA may receive a distribution expense fee of 0.075% per security.
  • Denominations: $1,000 and any integral multiple of $1,000; CUSIP 09712C3C5.

BofA Finance NASDAQ-100 Auto-Callable Securities: Structure and Key Terms

According to the filing, BofA Finance LLC is offering Market Linked Securities linked to the NASDAQ-100 Index, with the securities subject to automatic call on any of four call dates: November 16, 2027; November 16, 2028; November 16, 2029; and November 11, 2030 (designated the "Final Calculation Day"). The filing states that if the closing level of the underlying on any call date is greater than or equal to the starting value, the securities will be automatically called for the principal amount plus the applicable call premium. Call settlement occurs three business days after the applicable call date.

If the securities are not automatically called, the maturity payment amount depends on the relationship between the ending value and the starting value, according to the term sheet. If the ending value is less than the starting value but greater than or equal to the threshold value (90% of the starting value), the investor receives $1,000 per security. If the ending value is below the threshold value, the investor receives less than $1,000, calculated by reference to the percentage decline below the starting value. The filing notes that "if the Securities are not automatically called and the Ending Value is less than the Threshold Value, you will receive less, and possibly 90.00% less, than the principal amount of your Securities on the Maturity Date." The filing also states that the securities do not bear interest and that any positive return is limited to the applicable call premium.

The filing identifies BofA Securities, Inc., an affiliate of BofA Finance, as the calculation agent, and notes potential conflicts of interest in that role. The term sheet also discloses that selected dealers may receive a fee of up to 0.30% per security for marketing and other services, in addition to the stated underwriting discount. Registration statement numbers 333-290665 and 333-290665-01 are cited in the filing. The filing references the preliminary pricing supplement dated October 28, 2026, and directs investors to review that document along with related product supplements and prospectuses.

What Was Disclosed

BofA Finance LLC filed a term sheet for auto-callable, principal-at-risk securities linked to the NASDAQ-100 Index, maturing November 14, 2030, with call premiums ranging from at least 9.70% to at least 38.80% and a 10% downside buffer, guaranteed by Bank of America Corporation.